PTC (Nasdaq: PMTC), the company credited with having invented the modern
computer aided design (CAD)
industry, today announced it is changing its legal name to reflect the
full breadth of its current technology portfolio, market scope, and
corporate vision. While the company has operated as PTC
for some time, the company's legal name has remained Parametric
Technology Corporation, directly reflecting its earliest market
innovation - the first parametric, feature-based, fully-associative
solid-modeling software. Effective January 28, the company is changing
its legal name to PTC Inc. to align with its broadened purpose of
helping manufacturers transform
the way products are created and serviced.

Although a modest update, the legal name change acknowledges how far the
company’s capabilities have expanded through acquisition and organic
development over the past 25 years. From its roots as a pioneer in
desktop CAD, the company soon followed with another first – web-based
software for managing the proliferation of product-related information –
helping to define the modern product lifecycle management (PLM) market.
According to industry consulting firm CIMdata, the global market for PLM
and related technology and services is expected to reach nearly $50
billion by 2016.

Under the leadership of current CEO Jim Heppelmann, the company has
pursued an aggressive strategy of acquisitions and rapid organic
development to expand its offerings into fast-growing markets. In recent
years, PTC has extended its PLM portfolio to include application
lifecycle management (ALM) capabilities to help manage development of
software-intensive “smart” products, as well as to include supply chain
management (SCM) capabilities, particularly in the retail sector where
industry analyst firm IDC recently acknowledged PTC as the clear market
share leader. In addition, last year the company accelerated its entry
into service lifecycle management (SLM) with an acquisition that gives
PTC the broadest footprint of enabling technology and largest customer
base in this fast emerging market. Today, the company delivers
technology solutions across the broadest definition of a product’s
lifecycle – from conception and design to sourcing and service.

“As we look at the landscape of the global manufacturing industry, it is
clear that a transformation is underway,” said Jim Heppelmann, president
and CEO of PTC. “To address that change, PTC has been evolving as well –
expanding our vision, market scope, technology portfolio, and our
ability to help our customers achieve competitive advantage. With this
move, we are simply updating our legal name to reflect the reality of
who PTC is today.”

About PTC

PTC (Nasdaq: PMTC) enables manufacturers to achieve sustained product
and service advantage. The company's technology solutions transform the
way products are created and serviced across the entire product
lifecycle - from conception and design to sourcing and service. Founded
in 1985, PTC employs more than 6,000 professionals serving more than
27,000 businesses in rapidly-evolving, globally distributed
manufacturing industries worldwide. Get more information at www.ptc.com.